Ethereum price prediction: Expert warns of further crypto crash ahead of big surge Sur

Cryptocurrencies like Ethereum will remain a viable option for investors in the long term, a Wall Street veteran said in an interview with CNBC Wednesday.

Jim Bianco, founder and president of Bianco Research, predicted that those who hold on to their investments amid the dizzying volatility of digital tokens should expect immense rewards and a bearish sentiment.

Ethereum Price Prediction: Value Higher “On The Street”

However, Bianco mentioned one specific coin as the best option for investors: Ethereum.

Coins like Ethereum, he said, “will be much higher on the street.”

However, according to him, investors have to endure more debacles, similar to last week’s cryptocurrency crash that lost trillions in value. Nevertheless, said Bianco, cryptocurrencies are “very promising”.

Also Read: Ethereum Price Prediction: Mark Cuban Explains Value Crash, Re predicts huge recovery

Bianco is one of the more independent voices on macro investing in the past three decades, and he is a regular guest on many business news items while writing a column for Bloomberg.

Bianco said cryptocurrencies aren’t the only ones suffering from a bear run, but sell-offs are more widespread in the crypto market. However, he stressed that the current situation in the crypto market should serve as a catalyst for growth, especially for those getting through the current troubled times, reported.

Ethereum increase in value due to decentralized finances

An important factor in rebuilding the cryptocurrency is decentralized funding (DeFi), according to Bianco. This movement is leading a revolution in the financial industry, and Ethereum, which includes DeFi apps, could be the biggest winners, wrote.

But then again, a lot of volatility has to be tolerated before the market reaches this level. Although he said it could take months or years, he is sure that cryptocurrencies will get there.

Ethereum, poster currency of the crypto comeback

Bianco warned that because the technology is new, cryptocurrencies will remain vulnerable to declines of up to 70 percent from current levels. Ethereum has seen an aggregate loss of over $ 2,000 since it soared in early May. However, in the past five days, Ethereum had pulled back to around $ 2,700, making it a poster cryptocurrency of the expected comeback.

The expert also warned that the traditional financial sector could be hardest hit once DeFi moves forward, making an analogy with the impact digital news sites and social media are having on the traditional publishing industry. Although printed newspapers and magazines still exist, digital and social media made them obsolete and less interesting.

He said prices will rise once cryptocurrencies start playing a more fundamental role in the general economy.

Bianco said investor profits would slowly decline in the future as cryptocurrencies go mainstream and volatility is checked as there is “less risk and less profit”.

Bianco, the CNBC report went on, has owned a good number of digital tokens, mostly Ethereum, since 2017 and has held them since then. He acted occasionally, about once or twice a year.

Related article: Ethereum Price Prediction: $ 3000 Bounce Back Still Possible Despite Crypto Crash

Comments are closed.